In the above table, which tax plan is progressive?
A) only plan A
B) only plan B
C) only plan C
D) both plan B and plan C
B
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If you put a $20 bill in the pocket of your winter coat at the beginning of spring so that you will be surprised when you find it again next winter, you are using money as:
A. bank reserves. B. a medium of exchange. C. a store of value. D. a unit of account.
Between 1998 and 2001, the federal budget was:
a. never in surplus. b. in surplus about as often as it was in deficit. c. in surplus. d. never in deficit.
Do the costs of forming a currency union fall or rise as the degree of labor market integration rises among member countries?
A) They will rise because any macroeconomic shock in one country will be transmitted to other members when there is greater labor market integration. B) They will fall because labor market integration allows labor to move to other member countries when there are negative macroeconomic shocks at home. C) They will rise because labor market integration allows labor to move to other member countries when there are negative macroeconomic shocks at home. D) The costs of forming a currency union do not depend at all upon the degree of labor market integration among member countries.
Suppose total benefits and total costs are given by B(Y) = 600Y ? 12Y2 and C(Y) = 20Y2. What level of Y will yield the maximum net benefits?
A. 600/64 B. 600/32 C. 300/8 D. 300/64